Oil prices slipped modestly in early Asian trading on Wednesday, with the West Texas Intermediate (WTI) down 0.71% to $60.13 and Brent crude trading 0.62% lower at $64.04. The subdued tone reflects a market caught between weak demand signals and lingering supply concerns. On the demand side, investors remain cautious about global growth prospects, especially in Asia, where slower industrial activity and weaker energy consumption are weighing on outlooks. At the same time, a firm U.S. dollar is adding pres ...

Core Insights - Weak factory activity in China, a stronger U.S. dollar, and OPEC+'s potential production increase are driving oil prices lower, marking a trend towards a third consecutive monthly decline [1][2] - Current oil prices are Brent crude at $64.61 per barrel and West Texas Intermediate at $60.16 per barrel, down from over $67 and $62 respectively at the end of September [1] - The market is closely monitoring the upcoming OPEC+ meeting for discussions on output policy, with potential for a 137,000-barrel per day production boost in December [2] Industry Analysis - U.S. crude output reached 13.6 million barrels per day as of the week ending October 24, contributing to downward pressure on oil prices alongside rising non-OPEC supply [3] - China's factory activity shrank more than expected in October, with a PMI reading of 49, indicating contraction, which has offset any bullish effects from potential U.S. energy purchases by China [4] - The market remains skeptical about significant losses in Russian oil supply due to U.S. sanctions, as recent discussions between U.S. and Chinese leaders did not address Russian oil flows [5]

December WTI crude oil (CLZ25) on Thursday closed up +0.09 (+0.15%), and December RBOB gasoline (RBZ25) closed up +0.0019 (+0.10%). Crude oil and gasoline prices posted modest gains on Thursday.  An easing of US-China trade tensions is supportive for economic growth prospects and energy demand after President Trump and President Xi Jinping on Thursday agreed to extend a tariff truce, roll back export controls, and reduce other trade barriers. More News from Barchart Crude and gasoline prices also have p ...

Oil prices edged up on Wednesday morning after three straight days of declines, with market sources citing a decline in U.S. crude inventories, while investor concerns about Russia sanctions and a pot... ...

turn now to the bond market with the 10-year yield briefly crossing back above 4% again as the price of oil also moves up. Let's head now to Rick Santelli who's in Chicago with more on the bond market and I guess could probably tell us as an Illinois guy is Indiana considered the Midwest. Oh, of course it is.Absolutely. We're all part of flyover country. You know, we need to make sure the audience knows tomorrow 8:30 Eastern September CPI.And I think that along with as Sully pointed out oil prices moving hi ...

By Hannah Lang NEW YORK (Reuters) -The dollar drifted higher against the yen on Thursday as traders waited for the delayed release of U.S. consumer inflation data on Friday and weighed fresh U.S. sanctions on Russian oil companies, which boosted oil prices. The U.S. currency was last up 0.38% on the yen at 152.525 yen, while the U.S. dollar index, which measures the greenback against a basket of currencies, was last nearly flat at 98.925. The week's main scheduled focus is the inflation data being relea ...

There are massive sanctions and sanctions on oil. The two biggest oil companies among the biggest in the world. But they're Russian.They do a lot of oil. And hopefully it'll push. Hopefully he'll become reasonable and hopefully Zelinsky will be reasonable to do.Let's bring in our executive editor for the Middle East, North Africa and Russia. That's Stuart Livingston Wallace in Dubai for us. Stuart, what do you make of these comments.It seems like a bit of a U-turn from President Trump. You know, it does. I ...

Core Viewpoint - Oil prices experienced their largest one-day increase in a month, indicating a potential impact on global crude supply due to recent price declines [1] Group 1 - The recent drop in oil prices has raised concerns among traders about its effect on the flow of global crude supplies [1]

Core Insights - Oil prices experienced a decline, settling approximately 1.6% lower in the previous session, as the market's risk premium diminished following an agreement between Israel and Hamas on the initial phase of a plan to end the conflict [1] Group 1 - The decline in oil prices indicates a shift in market sentiment as geopolitical tensions ease [1] - The agreement between Israel and Hamas is seen as a significant factor contributing to the reduction in risk premium in the oil market [1]

Core Viewpoint - Exxon Mobil Corporation is poised for a significant increase in third-quarter earnings for 2025, driven by higher oil prices and strong refining margins, despite a recent decline in stock performance [2][3][6] Group 1: Earnings Forecast - Exxon Mobil anticipates an increase in earnings by up to $300 million in the third quarter of 2025 due to favorable market conditions [2][6] - The Energy Products segment is expected to contribute significantly to earnings, with forecasts ranging between $300 million and $700 million [4] Group 2: Stock Performance - Scotiabank reaffirmed its "Outperform" rating for Exxon Mobil and raised its price target from $125 to $128, indicating confidence in the company's future performance [1][6] - Despite a 4% decline in stock price over the past year, the company's robust earnings forecast could signal a potential turnaround [3][6] - The current stock price is $113.98, reflecting a slight decrease of 0.04, or approximately -0.04% [3] Group 3: Market Position - Exxon Mobil's market capitalization stands at approximately $485.9 billion, highlighting its substantial presence in the energy sector [5] - The company had a trading volume of 3,463,938 shares on the NYSE, indicating active trading and investor interest [5]